future saver

7/29/2019 Future Saver

1/10

Future Saver forChildren


2/10

Saving or a childs uture

Our Future Saver or Children account isa straightorward instant access savings

account that you can save regularly in or

make lump sum deposits into. Just complete

the standing order on the application orm at

the back o this brochure.

Anyone aged 18 or over can apply to open

an account or the benet o a child with

an initial deposit o just 1. I the child

is 7 years or older, you may also be

interested in our MySavings Account

which can be opened in their own name.

Please call in to your local branch or visit

www.hsbc.co.uk or urther inormation.

Interest and tax

The value of the tax benefits described

depends on individual circumstances.

These could change in the future.

There are special rules i a parent has

given savings to their child. Where gits

rom a parent produce more than 100

gross income a year, the whole o theincome rom the gits are taxed as the

parents income and the account cannot

be registered in the childs name to have

interest paid without the deduction o tax.

The 100 rule applies to young people until

they reach 18 or marry (whichever comes

rst). The 100 rule applies separately to

each parent. It does not apply to gits givenby grandparents, other relatives or riends.

Interest will be paid monthly, and you will get

a quarterly statement, unless you request

to receive your statements electronically.

Interest is variable and normally paid ater

deduction o tax, however as this account is

held on behal o a child, they may qualiy to

receive interest gross.

Non-taxpayers are entitled to receive gross

interest i they have completed, returned and

we have processed an R85 Registration Form.

Higher rate taxpayers may have an

additional tax liability.

I you require urther inormation on thissubject, please go to www.hmrc.gov.uk/

taxback or alternatively please contact your

local tax oce.

2


3/10

3

Opening an account

Visit your nearest branch who will be

happy to assist you in opening the account

or call us on 0800 130 130 (textphone

0800 028 0126*). The attached application

orm may be completed in advance and

handed into your local branch.

You can open an account in your name

Re the child or whose benet you are

opening the account. We will then need

to see identication or the child,

eg, an original copy o the birth certicate.

We may also require separatedocumentation to veriy the childs

address, eg, National Health/Medical Card.

I you are not an existing HSBC Bank

customer we will also need to identiy you.

Please see page 7 or acceptable orms

o identication.

Summary Box

Key Product Inormation or our Future Saver or Children account

Account Name Future Saver for Children

Interest rates (AERs)

Variable rate

Interest paid monthly

See current rate insert or details

Tax StatusInterest is paid net o basic rate income tax. A parent or

guardian may register to receive interest paid gross on

behal o the child

Conditions forbonus payment

No bonus payment applies to this account

Withdrawalarrangements

Instant access

AccessThe account can be applied or in branch and by telephone

(0800 130 130*), but once opened can be operated in

branch, by telephone and online.


4/10

4

This brochure should be read alongsideour Savings interest rates insert which is

included with this brochure. It contains only

a summary o the main product eatures.

Our Future Saver or Children account is

subject to our General, Current Accounts

and Savings Terms and Conditions, a copy

o which will be sent /given to you at the

time you apply. Further inormation about

our products and services, are available by

calling 08457 404 404 (Channel Island and

Isle o Man customers please call 08456

006 161).*

Statements regarding tax liability refect

our current understanding o legislation

and practice and are subject to change.

Closing an account

For a period o 14 days ater the date we

open your account you have the right to

cancel your contract with us and close

your account. For applications completed

by telephone, this period will start rom

the date you receive the terms and

conditions in the post.

You can also tell us at any time thereater

to close your account. In both instances

we must receive your instructions in

writing or via our Personal Internet

Banking Services. I it is a joint account

you want to close we must receive

instructions rom all account holders.

Please note, we also have the right to

close your account at any time and we will

normally give you 30 days notice o this.

Important inormation


5/10

5

For your information

We are covered by the Financial

Services Compensation Scheme (FSCS).

The FSCS can pay compensation to

depositors i a bank is unable to meet

its nancial obligations. Most depositors

including most individuals and small

businesses are covered by the scheme.

In respect o deposits, an eligible

depositor is entitled to claim up to the

current FSCS limit or deposits. For joint

accounts each account holder is treated

as having a claim in respect o their share

so, or a joint account held by two eligible

depositors, each depositor would have

a separate claim up to the FSCS deposit

limit and so the maximum amount that

could be claimed in total would be twice

the current FSCS deposit limit. The FSCS

deposit limit relates to the combined

amount in all the eligible depositors

accounts with the bank, including their

share o any joint account, and not to each

separate account.

HSBC and First Direct are both trading

names o HSBC Bank plc and customers

who hold deposits under both trading

names will only be eligible or one claim

o up to the FSCS deposit limit in total.

For urther inormation about the scheme

(including the current limits, amounts

covered and eligibility to claim) please ask

at your local branch, reer to the FSCS

website www.scs.org.uk or call the FSCSon 020 7741 4100 or 0800 678 1100.

For all other enquiries on your account

please contact your local branch or call us

on 08457 404 404 or i you are a Premier

customer on 08457 70 70 70.

HSBC Bank plc is incorporated in

England and Wales and is established

at 8 Canada Square, London E14 5HQ

which is its registered oce. HSBC

Bank plc is regulated by the Financial

Services Authority and is registered in

the Financial Services Authority Register

with the registration number 114216. In

the UK, HSBC Bank plc is also licensed

by the Oce o Fair Trading to carry on aconsumer credit business, licence number

6343. HSBC Bank plcs registered

VAT number is GB365684514 and its

company register number is 14259.

Deposits made with our branches in the

Channel Islands and the Isle o Man are

not protected by the rules made under

the UKs Financial Services and Markets

Act 2000 or the protection o retail

clients, including the Financial Services

Compensation Scheme and the Financial

Ombudsman Service. In Jersey, HSBC

Bank plc is a participant in the Jersey

Banking Depositor Compensation Scheme.

The scheme oers protection or eligibledeposits o up to 50,000. The maximum

total amount o compensation is capped

at 100,000,000 in any 5 year period.


6/10

6

Full details o the scheme and bankinggroups covered are available on the

States o Jersey website or on request. In

Guernsey, HSBC Bank plc is a participant

in the Guernsey Banking Deposit

Compensation Scheme established by The

Banking Deposit Compensation Scheme

(Bailiwick o Guernsey) Ordinance, 2008.

Deposits made with our oces in the Isle

o Man are protected by the Isle o Man

Compensation o Depositors Regulations

2010. Full details are available rom our

branches in Jersey, Guernsey and the Isle

o Man respectively.

In Jersey HSBC Bank plc is regulated by

the Jersey Financial Services Commission

or Banking, General Insurance Mediation

and Investment Business and we abide

by the Code o Practice or Consumer

Lending. In Guernsey HSBC Bank plc

is licensed by the Guernsey Financial

Services Commission or Banking,

Insurance, Collective Investment Schemesand Investment Business. In the Isle o

Man, HSBC Bank plc is licensed by the Isle

o Man Financial Supervision Commission.

Services for customerswith disabilities

Please ask us i you require a Braille or

audio version o this leafet. A textphone

service is available or customers with

speech and/or hearing impairments please

call us on 08457 125 563*.

Letting us know if you are

unhappy with our service

I you have a complaint please let your

local branch manager or the manager o

the department concerned know. We

will endeavour to resolve your concerns

and put matters right. I your complaint

is not settled to your satisaction you

may be able to reer it to the Financial

Ombudsman Service. Our Listening

to your comments leafet contains

urther details.

*Lines are open 8am to 10pm every day,except Christmas Day, Boxing Day and NewYears Day. To help us continually improve ourservice and in the interests o security, wemay monitor and/or record your telephonecalls with us. Textphone service not availablein the Channel Islands and Isle o Man.


7/10

Account Opening and Identication

We will tell you i your applicationhas been successul and when we

will open your account. This may be

subject to appropriate identication,

address verication or other specied

documentation being produced to us.

I you do not already bank with us, we will

need to see some orm o identicationbeore we can complete your application,

such as:

} valid ull passport

} ull UK, Channel Islands, or Isle o Man

driving licence

} National Identity Card.

We may need to veriy your currentresidential address.

An original o at least one o the ollowing

documents is acceptable:

} bank or building society statement or

passbook showing current activity

} recent utility bill (mobile phone bills are

not acceptable)

} local authority/ council tax bill or water

rates bill valid or the current year.

For details o alternative documentation

please contact your local branch.

7


8/10

Application FormTo: HSBC Bank plcBranch name

I/We wish to open a Future Saver or Children account

I/We:

Enclose

(Personal cheques to be made payable to HSBC Bank plc.)

Request you to transer

rom my account:

Sort code

Account no

Future Saver or Children

Complete only those details which differ from main applicant.Your name

Surname

First name

Other names

Your address

House number/name

Street name

District

Town

County

Postcode

Date moved to present address D D M M Y Y Y Y

I at present address or less than three years: previous address

House number/name

Street name

District

Town

County

Postcode

Second applicants name

Surname

First name

Other names

Second applicants address

House number/name

Street name

District

Town

County

Postcode

Date moved to present address D D M M Y Y Y Y

House number/name

Street name

District

Town

County

Postcode

Childs details

Surname

First name(s)

Address(i dierent rom above)

PostcodeTelephone number(i dierent rom above)

Date o birth D D M M Y Y Y Y

InterestInterest will be paid monthly into the Future Saver or Children account

Gross InterestWe will pay you interest ater deduction o tax at the lower rate o income tax.

Account holders (or benecial owners) who are resident and ordinarily resident in the

UK may receive interest gross, that is without deduction o tax, i they are eligible and

an HSBC (substitute) orm R85 can be completed, signed by the account holder (or by

a parent or legal guardian i the benecial owner is under 16) and returned to us.

I all persons or whose benet the account is held are not ordinarily resident in the

UK, they may receive their interest gross i they are eligible and an HSBC (substitute)

orm R105 can be completed, signed and returned to us. Any interest paid beore we

are able to process an R105 must be paid ater deduction o tax at the applicable rate.

Your personal details


Home telephone

Daytime telephone

Second applicants personal details


Home telephone

Daytime telephone

I any persons(s) are opening this product in the UK and are not a permanent UK resident, or in the Isle o Man or Channel Islands and are not a

permanent resident o the Isle o Man or Channel Islands, you may need to complete a Non-Resident Regulatory Details Form. Please contact

your local branch.


9/10


10/10

hsbc.co.uk

Issued by HSBC Bank plc.

HSBC Bank plc, Customer Inormation:

PO Box 6201, Coventry CV3 9HW

PO Box 14, St Helier, Jersey JE4 8NJ

PO Box 31, St Peter Port, Guernsey GY1 3AT

PO Box 20, Douglas, Isle o Man IM99 1AU

91718- 4 (Pack o 10) MCP41305 11/12 HSBC Bank plc 2012. All Rights Reserved. AC15291

future saver

Documents